France and Germany step up their thoughts on a radical redefinition of the euro zone to force an economic, fiscal and tax in the short term and without necessarily the case of a slow and tedious review of the European treaties.

Paris and Berlin have agreed this week to propose by December 9 – when the next European summit – an ambitious reform of the Lisbon Treaty, but behind the scenes, preparations are being made around the tool more flexible and easily activated, as an intergovernmental treaty outside the community or a bilateral Franco-German if members of the euro area do not follow.

The second is to adopt a purely bilateral approach by including in the ongoing revision of the Franco-German Elysée in 1963 a high degree of harmonization in fiscal and social law.

The advantage of this approach is twofold for France and Germany. First, it allows to circumvent the unanimity required for a revision in formal treaties.

On the other hand, it places the responsibility to recalcitrant countries. This is particularly true of Great Britain who wanted to use the exercise to repatriate a number of powers to London.

CRISIS PLAN

Officially, the goal of Berlin is to obtain a limited revision of Article 126 of the Treaty of Lisbon on the Stability and Growth Pact.

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Values ​​to follow Friday at the Paris Bourse, where the CAC 40 index advances 0.65% to 3084.49 points in very small volumes, however, less than 800 million have changed hands on the index as part of Euronext platforms.

* EADS (4.65%) signed the largest increase in the CAC 40, after a jump of more than 5% related to his statement of annual goals and quarterly earnings well above expectations.

In addition, according to industry sources, the Qatar Airways and Emirates airlines as well as the lessor of aircraft ALAFCO could spend significant aircraft orders at the Dubai Air Show, which begins Sunday.

* BNP PARIBAS advance of 3.38% to 31.54 euros.

* Veolia Environnement (-1.07%) continues to suffer from its new warning issued yesterday, many brokers have lowered their price targets and estimates of value.

* SOITEC jumped 14.51% after announcing that its subsidiary Soitec Solar Development had received regulatory approval from the Commission to regulate utilities in the State of California for its five power purchase agreements concluded with San Diego Gas and Electric.

TF1 * (-13.49%) shows the largest decrease in the SBF 120, the group has lowered its forecast revenue for 2011 after the graduation of net advertising revenue of its flagship channel in the third quarter.

Unemployment up off again in September

Unemployment in France is left up in September after a slight decline in August, show statistics released Wednesday by the Ministry of Labour and job center.

The number of job seekers in category A (those who exercised any activities during the month) in France rose by 26,000 (+0.9%) last month to $ 2,780,500.

In one year, the number of unemployed in category A growing by 3%.

By adding the persons engaged in small (B and C), the number of job applicants sign an increase of 0.7%, or 27,600 more people in one month, to $ 4,175,800.On an annual basis, the increase for these three categories falls to 4.5%.

September was especially unfavorable for 50 years and older, an age in which the number of unemployed in category increased 2.1% over the month and 14.3% year on year.

It was also detrimental to the age of 25, since in that category, the number of unemployed increased by 0.6%. On a year, however, declined 2%.

Rescue of the euro: the bites of discord

Despite claims of a "perfect match" between Paris and Berlin to save the euro area, Germany is seeking to impose its measures to France. But Paris is fighting back. Anthology of statements that illustrate these differences. German Chancellor Angela Merkel and French President Nicolas Sarkozy during a press conference at the Elysee Palace August 16, 2011.

"The French do not move one iota"

Paris and Berlin on the same wavelength? There is something highly doubtful. Despite Thursday about the German Finance Minister Wolfgang Schäuble has mentioned a "total agreement" between France and Germany before the European summit Sunday, the two capitals still cling. This is particularly the disagreement on scenarios for ending the crisis of the euro which caused the postponement of a final decision next Wednesday, not Sunday as planned.Angela Merkel even declared Thursday in a small group that "the French do not move one iota" on their positions, according to remarks reported by the German daily Bild.

"Give a banking license in EFSF is out of question for us"

The disagreement most marked between the two capitals is on maximizing the European Financial Stability Fund (EFSF). Paris wants to give it a banking license to enable it to obtain financing from the European Central Bank (ECB) and have a borrowing capacity multiplied. Out of the question for Germany. The Vice-Chancellor of Germany Philipp Rösler was repeated Friday, "in no circumstances do we want a banking license is given to the EFSF. Want that our colleagues, friends and partners in France. But it's out the question for us as government and the coalition (government) as a whole. "The ECB also refuses, his chief economist Juergen Stark said on Thursday that "we can not meet the expectations of the governments (…) the fact that the ECB to do more."

"France continues to defend it, there are big discussions"

The EFSF, negotiations are still bitter between the two diplomats, and Paris does not admit defeat. According to a European diplomat, "France continues to defend it, there are big discussions." Paris as the ECB would continue to purchase securities of distressed states like Greece, Italy, and Spain. The institution has made since May 2010 out of its mandate to do so, and avoid contagion of a debt crisis in these countries. Belgium is already favorable.But the ECB refuses to continue this policy firmly and waits for the EFSF take the baton, according to the diplomat.

"From the beginning, Merkel dictate the tempo and impose its income erroneous"

If France does not want to compromise on its position is that it has followed much the German proposals in recent weeks on two main points: a strong restructuring of the Greek debt and bank recapitalization. It has long been opposed, but finally solved it, especially to preserve the unity of France and Germany. "From the beginning, Merkel dictate the tempo and impose its income erroneous," a European diplomat plague.France seemed to have resigned to claim the "banking license" to EFSF, it is now ready to attempt the showdown with Berlin.

"The impact is disastrous outside"

To stem the crisis, Berlin wants to use the EFSF as insurance against the default of the countries in difficulty. It would guarantee 20 to 30% of the securities issued by states. But on this subject the French are not the only ones to show their reluctance. Rome and Madrid are also in disagreement according to a source cited by Les Echos. According to Italy and Spain it will create a rate difference between bonds and debentures. "No one in a financial crisis, venture to purchase securities that need a crutch," the official said.The prospect of a consensus is difficult to foresee, and Europe the world illustrated by his disagreements according to the chairman of the Eurogroup, Jean-Claude Juncker. "The impact on the outside was a mess," he said. "We'll have to agree soon on how we can improve the look of others on us."

The situation in Greece "has not changed since July"

One of the major issues for the future of Europe is its ability to prevent financial excesses of fragile states in the euro area. In Germany, it would tighten controls on the reforms implemented by the countries supported by the troika (EU, ECB, IMF), today Greece, Portugal and Ireland. For this troika responsible for evaluating on a quarterly basis the progress of reforms, not enough according to a source close to the German government.The situation in Greece "has not changed since July," said the source. "The troika system which advises us every three months because too much stress, we need a much more permanent support, which allows to adapt much more quickly" assistive devices.

"There is no real problem with the Chancellor, there is a problem with the German coalition"

According to a French official quoted on the blog of Libération journalist Jean Quatremer, the real obstacles between France and Germany would rather a problem of "German-German". "There are no real problems with the Chancellor, there is a problem with the German coalition," said the official, who stressed that the Finance Minister Wolfgang Schäuble diverges including its chancellor on the level of discount to be imposed on creditors private on Greek debt.What foreshadow muscular discussions before the EU summit on Sunday.

Danone confident for 2012 after a third quarter in line

Confident for 2012, Danone Tuesday reconfirmed its 2011 objectives and expressed confidence for next year by publishing quarterly sales in line with expectations thanks to strong performance in emerging markets.

The world leader in dairy products and bottled water in the third quarter has a turnover of 4.805 million euros, against 4808.33 million expected by analysts polled by Reuters writing.

On a comparable basis, sales growth amounted to 5.9% in the range of 6 to 8% under the group, and as expected down from the 8.7% growth achieved in the first half.Analysts expected an improvement of 5.6% in the third quarter.

Danone said he was "confident" for 2012 and reiterated its 2011 objectives, namely an increase in sales on a comparable 6% to 8% and an increase of its current operating margin of approximately 0.2 point, always like.

This growth will come from all its activities, but particularly integration synergies from Russian Unimilk, said Danone, which still expects to grow its free cash flow consistent with the goal of two billion euros for 2012.

During a conference call, Chief Financial Officer Pierre-Andre Térisse, said the dynamics of the fourth quarter should be "fairly close" to that of the third.

He said most of the price increases had been "passed, executed and well executed in the first half."

As for the confidence shown in 2012, he said it was based on growth in emerging markets, the integration of Unimilk, which should be completed by the end of the year, and increases performed for several quarters in each of the group's activities.

SALES ALMOST STABLE IN EUROPE DYNAMIC ELSEWHERE

The CFO said the price of milk and plastics were now grown.

On a comparable basis, sales of the branch "water" rose 7.9% to 816 million euros in the third quarter, those of the Fresh Dairy Products division from 3.5% to 2.785 million, the "child nutrition" has increased by 10.5% to 906 million and the pole "medical nutrition" from 9.8% to 298 million.

Growth in fresh dairy products was driven by the brand Activia who performed a double-digit growth in Latin America, Japan, Saudi Arabia, Spain and Italy, says Pierre-André Térisse.

In Europe, still comparable, Danone's sales rose only 0.1% to 2.661 million euros in the third quarter, as they progressed from 19.6% in Asia, 740 million, and 11.5% in the rest of the world, to 1.404 million.

In the U.S., where the Greek yogurt segment took 25% market share, Danone has renovated Oikos brand and the first results "are excellent," argued Pierre-André Térisse."We are working to increase our capabilities to meet this demand," he said.

In Russia, he said, the price increases of 2010 have resulted in "a temporary slowing of growth" so that "sales of Danone and Unimilk remained stable compared to last year."

At the Paris Bourse, the action Danone, down in the first few exchanges, quickly moved into the green and won 1.18% to 45.93 euros at 9:20 while the CAC 40 lost 2.1% and the European sector index of the food industry abandoning 0.36%.

Cigarette prices increased by 6%

Cigarette packs will cost on average 30 cents more starting Monday. This should bring 600 million euros to the state in one year.

Cigarette packs will cost on average 30 cents more starting Monday in France, a 6% increase sought by the government should have little effect on consumption, but that will bring 600 million euros a year in State to Safely smokers will find it in a package less than 5.70 euros in their tobacconist. For the first time, the Marlboro (the best-selling package with nearly 25% market share) will pass the bar 6 euros to 6.20 euros.The government has allowed manufacturers to revise their prices, anticipating an increase in minimums of perception which must be passed by Parliament in the law on financing of Social Security.

This increase was announced by Prime Minister Francois Fillon, in late August, when presenting the plan anti-government deficit. It should bring 90 million euros this year and 600 million in a full year.

Taxes are 80% of the price of a pack of cigarettes. Most (over 10 billion euros in 2010) goes into the coffers of the social security system. Fillon also announced a further increase of 6% in 2012, without specifying the date. This is the third consecutive year that the cigarettes in the fall recorded such an increase (30 cents per pack), well above inflation.However, sales have never declined so far in the same proportions.

54.8 billion cigarettes sold in 2010

Thus, it has sold 54.79 billion cigarettes in 2010 against 54.98 in 2009, a mere drop of 0.3%. At the same time, the amount of rolling tobacco rose from 7257 to 7598 tonnes (+4.7%). In total, sales of tobacco (including cigars) increased by 0.14% by volume, according to figures from the observatory of drugs (OFDT). Again this year, cigarette sales in late July had declined by only 0.6% in volume compared to 2010.

Value, because of previous price increases, the market is increasing by about 5%. Growth shared by the state (almost 13 billion euros in 2010, including 2.5 under the VAT), tobacconists (8.2%) and manufacturers and distributors (11.8%). The anti-smoking groups believe that any increase less than 10% has no effect on consumption.The Office of Tobacco Prevention (OFT) ironically on Monday up seeing an "application" of the state "to the tobacco industry for agreeing to increase by more than 100 million profit."

Tobacconists and manufacturers recall their part that a sharp increase has an effect on sales in tobacco shops, without lowering consumption, since it encourages smokers to buy abroad or from resellers on the sly. A study of Customs estimates that 20% of cigarettes smoked in France are not purchased in the network of tobacconists, but fraud (5%) or legally (15%) in the neighboring European countries (Belgium and Spain) where the package is sell up to 30% cheaper.

These purchases, which exploded after the sharp increases in tobacco prices in 2003/2004, affecting particularly border trade, result in financial compensation from the state to tobacconists.A parliamentary report issued in early October to the Minister of Budget, recommends "a convergence of prices of tobacco in France and in neighboring states," but also "to reflect on the taxation of rolling tobacco" for "contrecarrrer the substitution effect for each increase in the price of cigarettes. "

The de-globalization is "reactionary" according to Michel Barnier

European Commissioner Michel Barnier to financial services has denounced the speech "against" the interests "of peasants and workers", held by Arnaud Montebourg. The EU Internal Market Commissioner Michel Barnier (here at a press conference in Brussels on 21 February 2011)

European Commissioner Michel Barnier to financial services Friday sharply criticized the "reactionary discourse" of the de-globalization held in France, saying it was "contrary" to the interests of peasants and workers. "I hear that speech that I found in France (to be) a reactionary discourse on the de-globalization", denounced Mr. Barnier, former French Minister of Agriculture and member of the majority party UMP on LCI television.

"What is it? Is protectionism? The home each and every man for himself? This is contrary to the interests of the workers is contrary to the interests of farmers who need to produce goods and export "he criticized. For the Commissioner, Europe needs a sectoral industrial policy to be "a force of production" and "not just a force of consumption." In France, the PS deputy of Saone-et-Loire, to the surprise came third in the primary Socialist, Arnaud Montebourg, notably because of the "de-globalization" a major focus of the debate politique.d

Are we really rich with 6000 euros per month?

For the French, a person is rich if its income reached 6,308 euros per month. This is six times less than the threshold set by the government for the implementation of the future tax on the rich.

What a rich? As defined by the Oxford, Cambridge, is a person who has "a relatively large amount of money." The French have a much more accurate definition of wealth. For them, on average, a person may be considered "rich" when its income reached 6,308 euros per month, according to a poll published in the Journal Ifop Sunday. Two-thirds (66%) of respondents, a person is rich when it gains between 2000 and 5000 euros per month.

These figures are the wealth to 5 or 6 times the monthly poverty threshold (954 euros net per month).They are mostly in line with the scale of income tax: the marginal tax rate (the top rate of income set at 41%) apply from 70 830 euros per year, or 5900 euros monthly.

This perception of wealth of the French is in any case far from the government. Tax the rich announced in late August by the Government to fight against the deficit, a key measure of the budget in 2012, provides for taxing income at 3% tax above 500,000 euros per unit per year, or 41,666 euros per month. Parliamentarians should, however, as part of the budget vote in the Assembly in October and November in the Senate, lowering the threshold to 250,000 euros or 20,833 euros per month.

In the first case, the tax affects 10,000 homes. In the second, 25 000 households.Which corresponds to only 0.01% of the French richest, according to Insee, while 10% receive an average income of around 6000 euros per month threshold at which the French are wealth.

Stability of producer prices in August

The producer prices of French industry in the domestic market increased by 0.5% in July before stabilizing in August, show figures released Friday by INSEE.

These figures are consistent with the consensus estimate of economists polled by Reuters.

In one year, the index of producer prices on the French market shows an increase of 6.3%.

Prices of petroleum products fell 2.2% in August after a 3.5% increase in July, Insee said.

The food prices have remained stable in August as in July.

"In August, prices of electrical, electronic and software grew by 0.6%, including the prices of components and circuit boards (1.0%), driven by commodity prices," says INSEE .

Prices of industrial products for foreign markets, unchanged in July, fell 0.3% in August.

For all markets, prices of industry production was down 0.1% in August after 0.3% the previous month.

Trichet sees risks to financial stability

Risks to financial stability have increased dramatically, said Friday the president of the European Central Bank Jean-Claude Trichet, asking the authorities to act decisively to stem the current problems.

"The risks to financial stability in the EU have increased significantly," said the chairman of the central bank in the euro area in a speech to the Bretton Woods Committee.

"In recent months, the stress of increased sovereign smaller economies to larger economies of the EU," he said.

Jean-Claude Trichet also said:

Resolute action is required from all authorities, we need a rapid implementation of decisions taken on July 21

authorities should take advantage of the option EFSF lending to governments to recapitalize banks

should modify the treaty to allow EU decision-making power in the event of threats to the eurozone

The ECB stands ready to provide unlimited liquidity, currently, provides up to three months.